LOW broke out from the downtrend line at 54 last week, but it lost its momentum right at the resistence at 56, which was the previous attempt to break out. I was biased to short at 54 in the last comment on LOW. It would be stopped out at 54.5. It looks like that it is going to retest 54 level before it can go higher. Now, 54 has become the support. The major support is still at 52. I opened a position on LOW Jul 55 Put bought at 1.60. I plan to close it once it hits 54.
LOW is once again at its downtrend line. My bias is on the short side and target is 52. I would bail out at 54.5 if the volume is higher than the average.
LOW is once again at its downtrend line. My bias is on the short side and target is 52. I would bail out at 54.5 if the volume is higher than the average.
It closed up at 36.16 right at the current resistence level. However, the volume is below average. It has also reached short-term overbought condition. It won’t hurt to take some money off the table if you have bought at 34. The next resistence is still 37 and support may be at 35 or 34.
I hit my head when missing the spike 1131 to 1136! It happened seconds after closing a long position. After lunch, a short worked ok although the target was set at 1135 missing half of the plunge. Oh well, I was not watching the market anyway.
Increaded LFC position. It’s moving down lately. Likely it may find support at 25, its IPO price.
Closed SUNW position. I may reopn it when it breaks out or continues building base around 5.5 level.